CAROLINA SENIORCARE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2011

Legal Domicile

Principal Officer

LEE SYRIA

Phone

8284658019

Tax Period

2023-10-01 to 2024-09-30

CAROLINA SENIORCARE, founded in 2011, is a mid-sized nonprofit in the Health Care sector that reported $18.2M in total revenue in fiscal year 2023. Expenses of $16.1M left a modest 12% surplus.

Mission

A CHRISTIAN MINISTRY PROVIDING VIBRANT LIVING, DIVERSE PROGRAMS OF OUTREACH AND COMPASSIONATE SERVICES.

Program Service Accomplishments

Program 1

Expenses: $14,895,532 Revenue: $17,337,722

CAROLINA SENIORCARE IS A NOT-FOR-PROFIT PROVIDER OF PACE SERVICES UNDER THE SPONSORSHIP OF EVERYAGE. CAROLINA SENIORCARE SERVES INDIVIDUALS WHO ARE AGE 55 OR OLDER, CERTIFIED BY THEIR STATE TO NEED NURSING HOME CARE, ARE ABLE TO LIVE SAFELY IN THE COMMUNITY AT THE TIME OF ENROLLMENT, LIVE IN DAVIDSON, ROWAN, DAVIE, OR IREDELL COUNTIES AND EITHER HAVE MEDICARE OR MEDICAID. THE PROGRAM IS ABLE TO PROVIDE THE ENTIRE CONTINUUM OF CARE AND SERVICES TO SENIORS WITH CHRONIC CARE NEEDS WHILE MAINTAINING THEIR INDEPENDENCE IN THEIR HOMES FOR AS LONG AS POSSIBLE. PACE FUNDING IS UNIQUE AS PACE RECEIVES DIRECT PAYMENTS FROM MEDICARE AND MEDICAID TO PROVIDE ALL NEEDED SERVICES. BECAUSE OF THE POOLED FINANCING OF PACE, PROGRAMS HAVE STRONG INCENTIVES TO FOCUS ON WELLNESS AND PREVENTION AND TO DECREASE THE HOSPITALIZATION RATES FOR THE PARTICIPANTS AND THE INCIDENCE OF LONG-TERM INSTITUTIONALIZATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,611

Program Service Revenue $17,337,722

Investment Income $253,538

Other Revenue $593,249

TOTAL REVENUE $18,192,120

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,091,730

Fundraising Expenses $0

Program Expenses $14,895,532

Other Expenses $10,976,366

TOTAL EXPENSES $16,068,096

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,192,120	$16,887,754	+0.1%
Expenses	$16,068,096	$16,907,819	0.0%
Net Income	$2,124,024	$-20,065	-106.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

118

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,508,044

Total Directors

Key Employees

$320,144

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PARKER HOWELL	CHAIR	0.20	Officer Director	$0	$0	$0
BRAD THIE	VICE CHAIR	0.20	Officer Director	$0	$0	$0
GREGORY ALCORN	SECRETARY	0.20	Officer Director	$0	$0	$0
JULIUS ABERNETHY	BOARD MEMBER	0.20	Director	$0	$0	$0
LARRY BOLICK	BOARD MEMBER	0.20	Director	$0	$0	$0
ANTHONY BRANCH	BOARD MEMBER	0.20	Director	$0	$0	$0
TERRI FISHER	BOARD MEMBER	0.20	Director	$0	$0	$0
JEFF GILLIAM	BOARD MEMBER	0.20	Director	$0	$0	$0
ALLEN GRAY	BOARD MEMBER	0.20	Director	$0	$0	$0
HUNTER MARCH	BOARD MEMBER	0.20	Director	$0	$0	$0
LINDA MORRIS	BOARD MEMBER	0.20	Director	$0	$0	$0
SHANE SMITH	BOARD MEMBER	0.20	Director	$0	$0	$0
CORY TOBIN	BOARD MEMBER	0.20	Director	$0	$0	$0
MARGIE WILEY	BOARD MEMBER	0.20	Director	$0	$0	$0
LEE SYRIA	PRESIDENT AND CEO	0.20	Officer	$0	$48,900	$541,411
SARAH ABERNETHY	ASSISTANT SECRETARY	0.20	Officer	$0	$14,180	$99,422
AIMEE REIMANN	COO	0.20	Officer	$0	$53,160	$384,499
THOMAS CHANG	SR. DIR. HOME/COMM. BASED	40.00	Officer	$192,021	$42,090	$234,111
TAMMY JONES	CFO	0.20	Officer	$0	$33,710	$248,601
DAVID E RODDY	MEDICAL DIRECTOR	40.00	Key Emp	$288,975	$31,169	$320,144
THOMAS J CALOGERO III	STAFF PHYSICIAN	40.00	Highest	$192,319	$16,851	$209,170
UCHENNA GENEVIEVE OHAJUNWA	CENTER ADMINISTRATOR	40.00	Highest	$102,593	$35,321	$137,914

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$18,192,120	$16,068,096	$17,138,531	$2,124,024
2023	$16,887,754	$16,907,819	$10,212,292	$-20,065
2022	$14,797,445	$14,340,115	$9,804,902	$457,330
2021	$15,886,474	$13,413,985	$8,522,740	$2,472,489
2020	$15,920,272	$13,559,163	$5,919,469	$2,361,109
2019	$16,446,033	$15,210,585	$4,035,498	$1,235,448
2018	$15,446,496	$14,799,532	$3,197,614	$646,964